Forex Technical Analysis & Forecast by RoboForex

[Vlad RF]

Murrey Math Lines 05.04.2024 (Brent, S&P 500)

Brent
Brent quotes are above the 200-day Moving Average on D1, indicating a prevailing uptrend. However, the RSI is in the overbought area. As a result, in this situation, the price is expected to rebound from the 5/8 (90.62) level and drop to the support at 4/8 (87.50). The scenario could be cancelled by breaking above the 5/8 (90.62) level. In this case, Brent quotes could maintain their upward trajectory, potentially reaching the resistance at 6/8 (93.75).

On M15, the price decline could be additionally confirmed by a breakout of the lower boundary of the VoltyChannel.

S&P 500
S&P 500 quotes remain in the overbought area on D1. The RSI has broken the support line. In this situation, the price is expected to break below the +1/8 (5156.2) level and fall to the support at 8/8 (5000.00). The scenario could be cancelled by rising above +2/8 (5312.5), which might reshuffle the Murrey indication, setting new price movement targets.

Read more - Murrey Math Lines (Brent, S&P 500)

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Sincerely,
The RoboForex Team

 

[Vlad RF]

Murrey Math Lines 08.04.2024 (EURUSD, GBPUSD)

EURUSD, “Euro vs US Dollar”
EURUSD quotes have broken above the 200-day Moving Average on D1, indicating a potential uptrend. The RSI has broken the resistance line. In this situation, the price is expected to break the 5/8 (1.0864) level, rising to the resistance at 6/8 (1.0986). The scenario might be cancelled by a breakout of the 4/8 (1.0772) level. In this case, the pair could decline to the support at 3/8 (1.0620).

On M15, the price rise could be additionally supported by a breakout of the upper line of the VoltyChannel.

GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD quotes are above the 200-day Moving Average on D1, which indicates a prevailing uptrend. The RSI has broken the resistance line. In this situation, the price is expected to surpass the 4/8 (1.2695) level and rise to the resistance at 5/8 (1.2817). The scenario could be cancelled by a breakout of the 3/8 (1.2573) level, which might lead to a trend reversal, pushing the pair down to the support at 2/8 (1.2451).

Read more - Murrey Math Lines (EURUSD, GBPUSD)

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Sincerely,
The RoboForex Team

 

[Vlad RF]

Murrey Math Lines 09.04.2024 (AUDUSD, NZDUSD)

AUDUSD, "Australian Dollar vs US Dollar"
AUDUSD quotes have broken the 200-day Moving Average on D1 and rest above it, revealing the probability of an uptrend development. The RSI has broken the resistance line. In this situation, the quotes are expected to breach the 5/8 (0.6652) level and rise to the resistance at 6/8 (0.6713). The scenario could be cancelled by a breakout of 4/8 (0.6591). In this case, the price might drop to the support at 3/8 (0.6530).

On M15, the upper boundary of the VoltyChannel is broken, increasing the probability of further price growth.

NZDUSD, "New Zealand Dollar vs US Dollar"
NZDUSD quotes are below the 200-day Moving Average on D1, which indicates the prevalence of a downtrend. The RSI is testing the resistance line. In these circumstances, a rebound from the 3/8 (0.6042) level is expected, followed by a decline to the support at 1/8 (0.5920). The scenario could be cancelled by rising above 3/8 (0.6042), in which case, the pair might rise to the resistance at 4/8 (0.6103).

Read more - Murrey Math Lines (AUDUSD, NZDUSD)

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Sincerely,
The RoboForex Team

 

[Vlad RF]

Ichimoku Cloud Analysis 10.04.2024 (EURUSD, XAUUSD, AUDUSD)

EURUSD, “Euro vs US Dollar”
EURUSD is rebounding from the signal lines of the indicator. The pair is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Kijun-Sen line at 1.0835 is expected, followed by a rise to 1.0980. An additional signal confirming the rise will be a rebound from the lower boundary of the bullish channel. The scenario can be cancelled by a breakout of the lower boundary of the Cloud, with the price securing below 1.0745, indicating a further decline to 1.0655. Meanwhile, the rise could be confirmed by a breakout of the upper boundary of the bearish channel, with the price gaining a foothold above 1.0895.

XAUUSD, "Gold vs US Dollar"
Gold has established itself above the signal lines of the indicator. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper boundary of the Cloud at 2340 is expected, followed by a rise to 2405. An additional signal confirming the rise will be a rebound from the lower boundary of the bullish channel. The scenario can be cancelled by a breakout of the lower boundary of the Cloud, with the price securing below 2305, which will signal a further decline to 2265.

AUDUSD, "Australian Dollar vs US Dollar"
AUDUSD is correcting following a rebound from the resistance level. The pair is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Kijun-Sen line at 0.6605 is expected, followed by a rise to 0.6715. An additional signal confirming the rise will be a rebound from the lower boundary of the bullish channel. The scenario can be cancelled by a breakout of the lower boundary of the Cloud, with the price securing below 0.6495, which will indicate a further decline to 0.6405.

Read more - Ichimoku Cloud Analysis (EURUSD, XAUUSD, AUDUSD)

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Sincerely,
The RoboForex Team

 

[Vlad RF]

Ichimoku Cloud Analysis 11.04.2024 (GBPUSD, USDCAD, USDJPY)

GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD is rebounding from the support level. The instrument is going below the Ichimoku Cloud, which suggests a bearish trend. A test of the lower boundary of the Cloud at 1.2585 is expected, followed by a decline to 1.2395. An additional signal confirming the decline will be a rebound from the lower boundary of the bullish channel. The scenario can be cancelled by a breakout of the upper boundary of the Cloud with the price securing above 1.2675, which will mean further growth to 1.2765.

USDCAD, “US Dollar vs Canadian Dollar”
USDCAD has secured above the upper boundary of the bullish channel. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Tenkan-Sen line at 1.3635 is expected, followed by a rise to 1.3775. An additional signal confirming the rise will be a rebound from the lower boundary of the bullish channel. The scenario can be cancelled by a breakout of the lower boundary of the Cloud with the price securing under 1.3510, which will mean a further decline to 1.3415.

USDJPY, “US Dollar vs Japanese Yen”
USDJPY is testing the signal lines of the indicator. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Kijun-Sen line at 152.65 is expected, followed by a rise to 153.85. An additional signal confirming the rise will be a rebound from the lower boundary of the bullish channel. The scenario can be cancelled by a breakout of the lower boundary of the Cloud with the price securing under 151.25, which will mean a further decline to 150.35.

Read more - Ichimoku Cloud Analysis (GBPUSD, USDCAD, USDJPY)

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Sincerely,
The RoboForex Team

 

[Vlad RF]

Murrey Math Lines 12.04.2024 (Brent, S&P 500)

Brent
Brent quotes are above the 200-day Moving Average on D1, indicating a prevailing uptrend. The RSI has broken the support line, exiting the overbought area. As a result, in this situation, the price is expected to test the 4/8 (87.50) level, rebound from it, and rise to the resistance at 6/8 (93.75). The scenario could be cancelled by breaking below the 4/8 (87.50) level. In this case, Brent quotes could decline to the support at 3/8 (84.38).

On M15, following a rebound from the 4/8 (87.50) level on D1, the price rise could be additionally confirmed by a breakout of the upper line of the VoltyChannel.

S&P 500
S&P 500 quotes remain in the overbought area on D1. The RSI is testing the support line. In this situation, the price is expected to test the +2/8 (5312.5) level, rebound from it, and fall to the support at 8/8 (5000.00). The scenario could be cancelled by rising above +2/8 (5312.5), which might reshuffle the Murrey indication, setting new price movement targets.

Read more - Murrey Math Lines (Brent, S&P 500)

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Sincerely,
The RoboForex Team

 

[Vlad RF]

Murrey Math Lines 15.04.2024 (EURUSD, GBPUSD)

EURUSD, “Euro vs US Dollar”
EURUSD quotes are below the 200-day Moving Average on D1, revealing the prevalence of a downtrend. However, the RSI has reached the oversold area. In this situation, a rebound from the 3/8 (1.0620) level is expected, followed by a rise to the resistance at 4/8 (1.0772). This move is interpreted as a correction of the downtrend. The scenario could be cancelled by a breakout of the 3/8 (1.0620) level, in which case the pair might drop to the support at 2/8 (1.0498).

On M15, the price rise might be supported by a breakout of the upper boundary of the VoltyChannel.

GBPUSD, “Great Britain Pound vs US Dollar”
The GBPUSD pair stands below the 200-day Moving Average on D1, revealing the prevalence of a downtrend. The RSI has broken the support line. In this situation, a further decline to the nearest support at 1/8 (1.2329) might follow. The scenario could be cancelled by rising above 2/8 (1.2451), in which case the quotes might correct to the resistance at 3/8 (1.2573).

Read more - Murrey Math Lines (EURUSD, GBPUSD)

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Sincerely,
The RoboForex Team

 

[Vlad RF]

Murrey Math Lines 16.04.2024 (AUDUSD, NZDUSD)

AUDUSD, "Australian Dollar vs US Dollar"
AUDUSD quotes are below the 200-day Moving Average on D1, revealing the prevalence of a downtrend. The RSI has broken the support line. In this situation, a breakout of the 1/8 (0.6408) level is expected, followed by a price decline to the support at 0/8 (0.6437). The scenario might be cancelled by rising above 2/8 (0.6469), in which case the quotes could correct to the resistance at 3/8 (0.6530).

On M15, the lower boundary of the VoltyChannel is breached, which increases the probability of a further price decline.

NZDUSD, "New Zealand Dollar vs US Dollar"
NZDUSD quotes and the RSI are approaching their oversold areas on D1. In this situation, a test of 0/8 (0.5859) is expected, followed by a rebound from this level and a rise to the resistance at 2/8 (0.5981). In this case, the quotes might drop to the support at -1/8 (0.5798).

Read more - Murrey Math Lines (AUDUSD, NZDUSD)

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Sincerely,
The RoboForex Team

 

[Vlad RF]

Japanese Candlesticks Analysis 17.04.2024 (USDCAD, AUDUSD, USDCHF)

USDCAD, “US Dollar vs Canadian Dollar”
USDCAD has formed a Shooting Star reversal pattern on H4. Currently, the instrument might go by the reversal signal in a correction wave. The pullback target could be 1.3795. Next, the price might rebound from the support and continue its upward momentum. However, the quotes could rise to 1.3875 without testing the support level.

AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD has formed a Hammer reversal pattern on H4. Currently, the instrument could go by the reversal signal in an ascending wave. The correction target might be 0.6440. After testing the resistance level, the quotes could rebound from it and maintain their downward trajectory. However, the price might fall to 0.6375 without a pullback.

USDCHF, “US Dollar vs Swiss Franc”
USDCHF has formed a Doji reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target could still be 0.9185. Upon testing the resistance level, the price might break above it and continue developing the uptrend. However, the quotes could pull back to 0.9075 before rising.

Read more - Japanese Candlesticks Analysis (USDCAD, AUDUSD, USDCHF)

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Sincerely,
The RoboForex Team

 

[Vlad RF]

Murrey Math Lines 18.04.2024 (USDCHF, XAUUSD)

USDCHF, “US Dollar vs Swiss Franc”
USDCHF quotes are above the 200-day Moving Average on D1, indicating the prevalence of an uptrend. However, a divergence has formed on the RSI. As a result, in this situation, a test of the 6/8 (0.9033) level is expected, followed by a breakout and a price decline to the support at 5/8 (0.8911). This decline could be interpreted as a correction of an uptrend. The scenario might be cancelled by a breakout of the resistance at 7/8 (0.9155). In this case, the pair could rise to the 8/8 (0.9277) level.

On M15, the lower boundary of the VoltyChannel is broken, which increases the probability of a further price decline.

XAUUSD, “Gold vs US Dollar”
Gold quotes are above the 200-day Moving Average on D1, indicating the prevalence of an uptrend. However, the RSI is in the overbought area. In this situation, a rebound from 3/8 (2375.00) is expected, followed by a price decline to the support at 2/8 (2250.00). This movement could be interpreted as a correction of an uptrend. The scenario might be cancelled by rising above 3/8 (2375.00), in which case, the quotes could grow to the resistance at 4/8 (2500.00).

Read more - Murrey Math Lines (USDCHF, XAUUSD)

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Sincerely,
The RoboForex Team